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CBIC extends due date of payment of tax for April 2022 under QRMP scheme in FORM GST PMT-06

The due date of payment of tax for the month of April, 2022 by taxpayers under QRMP scheme in FORM GST PMT-06 has been extended till 27th May, 2022 (Refer notification No. 06/2022-Central Tax dated 17.05.2022, as attached below) ..

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CBIC extends due date for filing FORM GSTR-3B for the month of April, 2022

The due date for filing FORM GSTR-3B for the month of April, 2022 has been extended till 24th May, 2022 (Refer notification No. 05/2022-Central Tax dated 17.05.2022, as attached below) ..

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CBIC Chairman releases National Time Release Study, 2022

Shri Vivek Johri, Chairman, Central Board of Indirect Taxes and Customs (CBIC), presented a set of Time Release Studies (TRS) conducted by the department. TRS are essentially a performance measurement tool for assessing the cargo clearance process of the international trade, as recommended by the World Trade Organization (WTO) under the Trade Facilitation Agreement (TFA) and the World Customs Organization (WCO). It adopts average cargo release time, i.e. the time taken from the arrival of the..

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CBIC extends Exemption of IGST & Compensation Cess for imports under specified export incentive schemes till June 30, 2022

Exemption of IGST & Compensation Cess on imported goods or procured by EOU's, STP Units, EHTP units etc., till June 30, 2022 Read the official notification below - MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 31st March, 2022 No. 18/2022-Customs   G.S.R. 249(E).—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Governme..

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CBIC extends Exemption of IGST and Compensation Cess on imported goods under FTP till 30th June 2022

Exemption of IGST & Compensation Cess on imported goods under FTP 2015-2020 extended till June 30, 2022   Read the official notification below - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 31st March, 2022 No. 19/2022-Customs G.S.R. 248 (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do,..

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CBIC reduced the compliances required under the Customs Rules, 2017 and introduced end to end automation of the procedure involved

Reduction of compliances and end-to-end automation of procedure relating to import of certain goods at concessional rate of duty In a significant step towards Atmanirbhar Bharat, Central Board of Indirect Taxes & Customs (CBIC) has reduced the compliances required under the Customs (Import of Goods at Concessional Rate of Duty-IGCR) Rules, 2017 and introduced end to end automation of the procedure involved. Towards this end, the online portal has gone live on www.icegate.gov.in ..

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CBIC makes e-invoice mandatory if turnover exceeds Rs. 20 crores w.e.f 1st April 2022

The Central Board of Direct taxes and Customs (CBIC) has made the E-invoice mandatory under GST for registered persons having an aggregate turnover above Rs. 20 crore in any of the previous years from 2017-18 till 2021-22 with effect from 1st April, 2022. The existing limit of Rs. 50 crores has now been reduced to Rs. 20 crores vide Notification No. 01/2022 - Central Tax dated 24th February, 2022.   Click here to read the official notification issued by CBIC ..

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CBIC | 19 officers of CBIC & 1 person from the private sector were awarded on the eve of International Customs Day, 2022

The Central Board of Indirect Taxes and Customs (CBIC) and all its field formations observed the International Customs Day, 2022 yesterday. The theme for this year, as given by the World Customs Organisation (WCO) was "Scaling up Customs Digital Transformation by Embracing a Data Culture and Building a Data Ecosystem". Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman and Union Minister of State for Finance Shri Pankaj Chaudhary congratulated the CBIC today ..

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29 officers and staff of CBIC selected for grant of Presidential Awards on eve of Republic Day

Every year, the officers and staff of the Central Board of Indirect Taxes & Customs are considered for grant of Presidential Award of Appreciation Certificates and Medals for "Exceptionally Meritorious Service rendered at the Risk of Life" and for "Specially Distinguished Record of Service" on their achieving and maintaining excellence in the discharge of their duties. These awards are announced on the eve of Republic Day. This year, 29 officers/Staff&nb..

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CBIC notifies restrictions in the availment of ITC from 1st January 2022

The Central Board of Indirect Taxes and Customs has notified the Central Goods and Services Tax (Tenth Amendment) Rules on 29th December 2021, in order to make amendments to the Central Goods and Services Tax Rules, 2017.  As such, under the amended rules: (i) in rule 36, for sub-rule (4), the following sub-rule shall be substituted, with effect from the 1st day of January, 2022, namely: "(4) No input tax credit shall be availed by a registered person in respect of invoices or..

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CBIC extends deadline of GSTR-9 and GSTR-9C for FY 2020-21

  The due date for furnishing annual return in FORM GSTR-9 & self-certified reconciliation statement in FORM GSTR-9C for the financial year 2020-21 has been extended from 31.12.2021 to 28.02.2022. Notification No.40/2021-Central Tax  dated 29.12.2021 to this effect has been issued. ..

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CBIC issues clarification w.r.t Surprise GST Recovery Visits from 1st January 2022

As per the Finance Act 2021, the government is empowered to send its recovery officials to a taxpayer's premises to collect GST without notice, if the tax liability shown in the requisite form of the taxpayer is less than what invoices, mentioned in the outward supply form, should draw.  The relevant provision in the Finance Act, 2021, will come into effect from January 1, 2022. Subsequent to the notification issued by the government, taxpayers are worried whether the law is draconia..

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CBIC Chairman Shri Vivek Johri presides over Passing Out Ceremony of the 71st Batch of 35 IRS(C&IT) Officers

The professional training of the 71st Batch of IRS(C&IT) culminated with a Passing Out Parade here today at National Academy of Customs, Indirect Taxes and Narcotics (NACIN), Faridabad. The 71st Batch consists of 35 officers, which includes 10 lady officers. These young officers will be at the helm of administering GST, India’s most iconic reform in the indirect taxation regime, since independence. Shri Vivek Johri, Chairman, Central Board of Indirect Taxes & Customs (..

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CBIC mandates Aadhaar Authentication for Registered Persons

The Central Government vide Notification No. 38/2021-CT dated 21.12.2021 has notified January 1, 2022 as the implementation date for Rule 10B of CGST Rules, 2017. In the said rule, it is mandatory for the registered person to undergo Aadhaar authentication for the below purposes, Filing of application for revocation of cancellation of registration in FORM GST REG-21 under Rule 23 of CGST Rules, 2017 Filing of refund application in FORM RFD-01 under Rule 89 of CGST Rules, 2017 Refund..

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CBIC Widens the scope of Section 83 of the CGST Act (Provisional Attachment of Property / Bank Account) w.e.f. January 01, 2022

Background The Hon'ble Finance Minister, in Union Budget 2021-22, proposed changes vide the Finance Bill, 2021, that amends the Central Goods and Services Tax Act, 2017 ("the CGST Act") with respect to provisional attachment of property/bank account. Accordingly, amended Bill was passed in Rajya Sabha, the upper house, and it received presidential assent vide Finance Act, 2021.   Notification The CBIC vide Notification No. 39/2021- Central Tax dated December 21, 20..

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Features of the new tax information portal launched by CBIC

Introduction CBIC has launched a revamped tax information portal Click Here. With the help of this portal, all indirect tax legislations, rules, regulations and forms will be available for the easy reference of taxpayers. CBIC will continuously update and expand this portal in a phased manner. Categories In this website, information under all categories such as Customs Law, GST Law, Central Excise Law, and even the erstwhile Service Tax Law will be available.   Feedback CB..

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26 CBIC officers conferred with the Presidential Award of Appreciation Certificate for "Specially Distinguished Record of Service"

Finance Minister Smt. Nirmala Sitharaman confers Presidential Award of Appreciation Certificate to 26 officers and staff of CBIC for "Specially Distinguished Record of Service" at Investiture Ceremony in Lucknow Finance Minister suggests one-time special "Corona Response Award" for outstanding performance of Customs officials in fighting COVID-19 pandemic Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participated as the Chief Guest of the In..

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CBIC Issues Clarification on Certain Refund Related Issues

The Central Board of Indirect Taxes and Customs, via Circular No. 166/22/2021-GST dated 17th November 2021, has provided a clarification on certain refund related issues.   S.No. Issue Clarification 1. Whether the provisions of subsection (1) of section 54 of the CGST Act regarding time period, within which an application for refund can be filed, would be applicable in cases of refund of excess balance ..

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CBIC Issues Clarification in Respect of Applicability of Dynamic QR Code on B2C Invoices

The Central Board of Indirect Taxes and Customs has issued a clarification in respect of applicability of Dynamic Quick Response (QR) Code on B2C invoices and compliance of notification 14/2020 - Central Tax dated 21st March 2020. It is observed that from the present wording of S. No. 4 of Circular No. 156/12/2021 dated 21st June 2021, doubt arises whether the relaxation from the requirement of dynamic QR code on the invoices would be available to such supplier, who receives payments from the..

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CBIC Chairman inaugurates Customs & GST pavilion at 40th India International Trade Fair

Shri M. Ajit Kumar, Chairman, CBIC, inaugurated the Customs & GST pavilion here today at Hall no.12 of Pragati Maidan, New Delhi. Central Board of Indirect Taxes and Customs (CBIC) has set up Customs & GST pavilion in the 40th edition of India International Trade Fair. The CBIC has been putting up pavilions in the IITFs since 2012 with an objective to educate visiting members of trade & public about compliance requirements under GS..

Posted in news |   498 Views





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